Enron Mail

From: frank.hayden@enron.com To: mike.grigsby@enron.com Subject: Electric Power Daily Cc: Bcc: Date: Tue, 23 Oct 2001 04:56:34 -0700 (PDT) Mike, Check out article in today's electric power daily. DWR is having problems with bond issue and has yet to forward hedge gas exposure. Frank Also in the new filing, DWR lowered its estimate for revenue from off-system power sales to $191-million from $477-million. Nichols said the change reflected similar volume, but less return given falling power prices. He said he could not estimate exactly how much power the agency will sell on the market. Nichols added that DWR has yet to enter into natural gas hedges to lower some contract prices, because the agency is unsure it has the legal right to do so.